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by jimmydorry 1615 days ago
I’m not aware of any pundits, that get on the TV to push agendas about stocks, getting in any trouble with the SEC. I’m not sure if it’s just because I have been looking closer recently, or had more time WFH, but the blatant manipulation on morning shows and financial segments is appalling.

Things like saying a given pharmaceutical is headed for zero because their drug failed to get FDA approval, when actually the company had just started their trial and not yet sought approval.

Or pushing a stock then pretending to lose connection when asked what the company does.

Or saying that a company pivoting to online retail will not have the necessary skills and will be facilitating terrorists (name dropping Al Kaida).
1 comments
rowathay 1615 days ago
Pardon my ignorance and/or naïveté, but are these real examples?
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jimmydorry 1605 days ago
Apologies, I forget to check my comments for replies all too often.

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Example 1: Things like saying a given pharmaceutical is headed for zero because their drug failed to get FDA approval, when actually the company had just started their trial and not yet sought approval. (I miss re-called on this one. The company had just finished their phase 3 trial and were about to submit their results to the FDA) [1]

This one is the most damning in my eyes, and is expanded on fully if you are up for reading a 15 page submission made to the SEC.

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Example 2: Or pushing a stock then pretending to lose connection when asked what the company does. [2]

No easy transcript to link for this one. It happens a few seconds into the clip. "What does Upstart do?"

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Example 3: Or saying that a company pivoting to online retail will not have the necessary skills and will be facilitating terrorists (name dropping al-Qaeda). [3]

I've linked a transcript, but the specific part I referenced in relation to a company pivoting into e-commerce:

>Then the final issue is anti-money laundering. Imagine if you see some shady organization buying 100 NFTs for $2 million apiece from the same guy. You know, so 200 million being funneled in. Wouldn't that raise the specter that maybe al-Qaeda is funding a terrorist cell?

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[1] https://www.sec.gov/comments/s7-08-09/s70809-4614.pdf

[2] https://www.youtube.com/watch?v=bKoa5xGwtJk (slightly longer clip but at lower quality https://www.youtube.com/watch?v=wtVMx7ZiOQE )

[3] https://au.news.yahoo.com/gamestops-planned-nft-marketplace-...

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